Swiss prosecutors say investigating UBS-Credit Suisse merger

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Swiss federal prosecutors said that they had begun investigating the UBS takeover of its embattled banking rival Credit Suisse.

Credit Suisse had been embroiled in a series of scandals before the UBS takeoverSwiss federal prosecutors said Sunday that they had begun investigating the UBS takeover of its embattled banking rival Credit Suisse.

A"surveillance system" has been put in place that will allow them to intervene if necessary, the public ministry said. Credit Suisse shares had tumbled after the collapse of some US regional banks sparked fears of a trans-Atlantic contagion across the sector and a financial meltdown.

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